The Asia-Pacific drilling & completion fluid market is estimated to grow at a CAGR of 4.7% from 2014 to 2019. Although China holds the largest share in the Asia-Pacific drilling & completion fluid market, the segment in Indonesia is expected to grow at the fastest CAGR of 5.7% during the forecast period of 2014 to 2019. The growth of the Asia-Pacific drilling & completion fluid market is driven by factors such as discoveries of shale gas reserves in Asia-Pacific region and overall growth in the drilling activities across the region. However, factors such as highly volatile crude oil market, strict government regulations to start new exploration activities, and environmental concerns related to exploration activities may restrain the growth of the Asia-Pacific market in the coming years.

In this report, the Asia-Pacific drilling & completion fluid market has been broadly classified on the basis of base fluid, application, and geography. The main countries considered for the market analysis are China, Australia, Thailand, India, and Indonesia, among others. Water-based, oil-based, and synthetic-based systems are the main categories of drilling and completion fluids in Asia-Pacific, in terms of base fluids. The applications of the market are onshore and offshore.

The Asia-Pacific market was estimated to have acquired a share of 15% of the global drilling & completion fluid market in 2014. The bulk of the drilling activities in Asia-Pacific are onshore activities. China and Thailand hold a substantial share of the offshore drilling activities, with the maximum offshore wells drilled in these regions. The drilling and completion fluid market for onshore applications is dominated by China, India, and Indonesia. The drilling & completion fluid market in China is primarily driven by factors including shale gas exploration and growth in drilling activities.

The Asia-Pacific drilling & completion fluid market is a competitive market with a number of market players. Currently, the market is estimated to be dominated by top players such as Baker Hughes Inc., Halliburton, and M-I SWACO, among others. Acquisitions, partnerships, agreements, collaborations, and joint ventures are the key strategies adopted by most market players to achieve growth in the Asia-Pacific drilling & completion fluid market.

Reasons to Buy the Report:

From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends and PEST analysis), market share analysis of top players, supply chain analysis, and company profiles, which together provide the basic views on the competitive landscape; emerging and high-growth segments of the market; high-growth countries and their respective regulatory policies; government initiatives; and market drivers, restraints, and opportunities.

The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help the firms in garnering a greater share of the Asia-Pacific market. Firms purchasing the report could use any one or combination of the below mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market share.

The report provides insights on the following pointers:

Market Penetration: Comprehensive information on drilling and completion fluids offered by the top 10 players of the Asia-Pacific drilling & completion fluid market

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the Asia-Pacific drilling & completion fluid market

The key objective of drilling & completion fluids is to provide lubrication and decrease the friction in a drilling activity; cooling of a wellbore; and the removal of rock cuttings by transporting them to the drilling surface, as the rock cuttings are mixed with the fluids. The Asia-Pacific region is one of the fastest-growing markets for drilling and completion fluids, mainly owing to the rise in drilling and exploration activities in China, India, Australia, and Indonesia, among others. Australia and China have huge shale reserves where drilling activities are in the initial stage; thus, they are expected to become huge markets for drilling and completion fluids in the coming years. The growing population, improvements in economic conditions, and high rate of migration towards big cities, accelerated by industrial development, has raised the energy demand in Asia-Pacific.

The report analyzes the drilling and completion fluids market in Asia-Pacific on the basis of base fluid, application, and geography. In terms of geography, the report has been segmented into China, Australia, Thailand, India, and Indonesia. The drilling and completion fluid segments, in terms of base fluid, are water-based systems, oil-based systems, and synthetic-based systems, among others (including aerated foam, gaseous agents, and air as a base fluid mixed with various additives). The application areas covered in the report are onshore and offshore areas.

The growing demand for energy can be catered to only by increasing the production of hydrocarbons, which is carried out by enhanced oil recovery to boost the production or by drilling new wells. These factors have led to an upsurge in the demand for drilling and completion fluids. The drilling and completion fluids market is highly competitive, owing to the presence of a large number of global and local players. The increase in the demand for drilling fluids as well as its growth in an emerging market has encouraged companies to adopt mergers and acquisitions as a strategy to grow in the market. Canadian Energy Services (Canada) and M-I SWACO (U.S.) are the key industry players of drilling and completion fluids. Both the companies have acquired the local drilling fluid manufacturers to increase their market share and strengthen their position in the Asia-Pacific market. Furthermore, Halliburton (U.S.) and Baker Hughes (U.S.) account for a significant market share due to their strong geographic presence and brand names.

The report provides an extensive competitive landscaping of drilling and completion fluid manufacturers operational in the Asia-Pacific market. The key players are Schlumberger Ltd., Halliburton Co., Baker Hughes Inc., and Weatherford International Ltd., among others. The market shares, new product/service launches, M&A, and product portfolios of the key market players have been detailed in the report.

Custom Market Research Services

We will customize the research for you, in case the report listed above does not
meet with your exact requirements. Our custom research will comprehensively cover
the business information you require to help you arrive at strategic and profitable
business decisions.